Numerous financial institutions and other entities offer membership rewards programs whereby participants may receive “points” for performing various actions, such as purchasing goods and services from a particular merchant or using a particular transaction card. Customers often, however, accumulate rewards points in multiple rewards programs that they may be unable or unwilling to redeem in the ways required by the provider. For example, an airline carrier offering a rewards program may require that a large number of frequent flyer miles be accrued before the participant can earn a free flight. Customers also often accumulate a small number of rewards points distributed across many different rewards programs, which are not readily redeemable. These customers may lack a way to use their rewards points as currency and to combine rewards points from multiple programs with cash from their various accounts.
These and other drawbacks exist with current systems.